LATEST THINKING

A new way forward with oilfield services

OVERVIEW

After one of the toughest and longest-lasting downturns in history, there are promising signs that the oil industry—at least in North America—is barreling back to growth. But for Oilfield Services companies, the picture isn’t all rosy. Changing supply curves, new competitors, and a now-constant state of market volatility requires them to squeeze every return they can from existing assets and investments. Those that boost their utilization will also boost their profitability. Those that don’t will find surviving the upturn as challenging as weathering the downturn.

KEY FINDINGS

Oilfield services players are finding it hard to benefit from the emerging market upturn. That’s because:

The oilfield services market is more cost-focused and just half the size it was three years ago.

Capital investments declined by up to 70 percent in the latest downturn.

Asset utilization has declined significantly, and returns on those assets have plummeted.

These factors, coupled with low oil prices and now-constant market volatility, paint a bleak picture for oilfield services companies. To reset a course to profitability, they must figure out how to get more from their assets and workforces. And they need to do so now.

Select your location

We were unable to find a match for "$searchstring." Try searching again by using different or more general keywords and check for spelling errors.

RECOMMENDED CONTENT

FILTER RESULTS

FILTER RESULTS

Connect with our Talent Community

Personalize your Accenture Career search and receive tailored news, insights and job alerts. Join our Talent Connection to learn more about the challenging and rewarding career opportunities offered by Accenture.